Marten Transport, Ltd. (NASDAQ:MRTN) Short Interest Down 14.2% in May

Marten Transport, Ltd. (NASDAQ:MRTN - Get Free Report) was the recipient of a significant decline in short interest in May. As of May 15th, there was short interest totalling 977,600 shares, a decline of 14.2% from the April 30th total of 1,140,000 shares. Approximately 1.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 519,700 shares, the days-to-cover ratio is presently 1.9 days.

Marten Transport Stock Down 0.9%

Marten Transport stock traded down $0.12 during mid-day trading on Thursday, reaching $13.02. 405,803 shares of the company's stock traded hands, compared to its average volume of 415,349. Marten Transport has a 12-month low of $12.52 and a 12-month high of $19.26. The company has a market cap of $1.06 billion, a price-to-earnings ratio of 38.29 and a beta of 1.04. The stock has a 50 day moving average of $13.20 and a two-hundred day moving average of $14.70.

Marten Transport (NASDAQ:MRTN - Get Free Report) last posted its quarterly earnings data on Wednesday, April 16th. The transportation company reported $0.05 earnings per share for the quarter, meeting analysts' consensus estimates of $0.05. Marten Transport had a net margin of 2.79% and a return on equity of 3.52%. The business had revenue of $223.15 million for the quarter, compared to analysts' expectations of $228.79 million. As a group, sell-side analysts forecast that Marten Transport will post 0.41 earnings per share for the current year.

Marten Transport Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date of this dividend is Friday, June 13th. Marten Transport's dividend payout ratio (DPR) is 88.89%.

Insider Transactions at Marten Transport

In other Marten Transport news, Director Jerry M. Bauer purchased 20,000 shares of the firm's stock in a transaction that occurred on Monday, April 28th. The shares were bought at an average price of $12.88 per share, with a total value of $257,600.00. Following the completion of the purchase, the director now directly owns 176,444 shares in the company, valued at $2,272,598.72. This trade represents a 12.78% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 22.90% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Meeder Asset Management Inc. bought a new position in shares of Marten Transport in the fourth quarter worth about $42,000. Johnson Financial Group Inc. bought a new position in shares of Marten Transport in the fourth quarter worth about $48,000. Quantbot Technologies LP bought a new position in shares of Marten Transport in the fourth quarter worth about $100,000. PNC Financial Services Group Inc. grew its holdings in shares of Marten Transport by 44.6% in the first quarter. PNC Financial Services Group Inc. now owns 7,428 shares of the transportation company's stock worth $102,000 after purchasing an additional 2,291 shares during the last quarter. Finally, Wedbush Securities Inc. bought a new position in shares of Marten Transport in the fourth quarter worth about $157,000. Institutional investors own 69.12% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded shares of Marten Transport from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd.

Marten Transport Company Profile

Marten Transport, Ltd. operates as a temperature-sensitive truckload carrier for shippers in the United State, Mexico, and Canada. The company operates through four segments: Truckload, Dedicated, Intermodal, and Brokerage. The Truckload segment transports food and other consumer packaged goods that require a temperature-controlled or insulated environment, as well as dry freight; and regional short-haul and medium-to-long-haul full-load transportation services.